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Motivation

A Good Entrepreneur Knows How to Listen

Doug Burgoyne came on the den this week pitching his business Frogbox, which supplies hard plastic boxes as a rental in place of cardboard boxes. His pitch, coming in with a valuation of $1.2 million, was that the business is profitable (though apparently not yet to a significant level), and is designed to scale. The […]

The Expansion Dilemma

Perhaps this issue is more relevant to those in service-based businesses, though I believe that no matter the nature of your business, this issue will resonate with you. I would be interested in hearing your feedback on this issue – as I believe that it has no right or wrong answers, merely a large set […]

Marketing – Paying Attention to What is Not Said

Working in business consulting, some of my time is spent dealing with the issue of marketing – namely, assisting clients in getting the word about their product or service out to their target market. Sometimes, the issue is reaching the target audience, which is usually fairly simple to solve. Other times, the issue is about […]

Social Media is Not a Strategy, but you need a Social Media Strategy

Trying to trace down the origin of the saying “Social Media is not a strategy” was more difficult than I expected, though I have been able to confirm that it’s been around since at least 2004. Some businesses get this – social media is a tool, just like radio is a tool, and sandwich-board men […]

Question: Where did you find a mentor?

Something advocated by most advisers for business owners, which I’ve promoted here as well many times, is that you find a mentor – someone who can advise you in regard to your specific issues, and help you navigate the world of business from having been in your shoes before. The value of such a person […]

Plan B? Support Plan A

There is a tendency for prudent people to have a Plan A, or what they really want to have work, and a Plan B. In business, though, your Plan B should be to support Plan A. The true reason for having multiple plans is when there is an outside factor which can influence whether or […]

I Have a Great Idea – What Now?

One of the most common questions encountered in regard to new businesses is in regard to what to do with an idea. There is often a misconception among those who have not yet ventured into the realm of starting a business that an idea has value. In truth, ideas are fairly worthless without execution. If […]

New Business from Old

A question pondered by owners of businesses is how to fit new ideas into existing businesses, or whether the new idea should be the basis for a new business. Often, the new idea arises from an existing part of a business, or is being developed using resources from the existing business. Perhaps it is only […]